Both Foresters and Empire Life are launching new participating whole life insurance products.

On Jan. 22, Empire Life introduced EstateMax, a permanent par plan that offers both a guaranteed base level of permanent life insurance coverage and cash surrender values. The insurer notes that the Baby Boom generation has now entered their 50s, and says many of them are looking for simple estate planning solutions. "EstateMax is our solution to meet this need whether that is covering final expenses, preserving wealth or leaving a legacy," comments Sean Kilburn, senior vice-president of insurance at Empire Life.

Foresters participating permanent life insurance product is called Advantage Plus, and it will be released on Jan. 26. Foresters notes that it has reduced its certificate fee from $90 to $50, and says the product offers term 10, term 20 and term 30 riders with preferred underwriting for amounts of $250,000 and higher. The Advantage Plus product also offers a term rider for children, with a conversion privilege of up to ten times the coverage amount to a maximum of $250,000 for each child.